With its begginings in the UAE, Zorrosign has now expanded to North America, Asia, and other continents across the globe.
Knowledge is a cumulative activity and even more so when it is accumulated from one generation to another. This is exactly what Shamsh Hadi, Founder and CEO of Blockchain Hyperledger Fabric digital signature platform, ZorroSign, did. He comes from a long line of family members who have founded businesses. His grandfather came to the UAE in the early 60s and founded his own business, as did his dad, and now taking the experience of generations; Shamsh developed one of the most advanced digital signature platforms globally available today.
According to Hadi, “The basis of all family businesses has been trust, where men were considered men of their words, that is why in 2013 I developed a tech startup which at its essence was trust.”
UAE as the beginning
ZorroSign, founded in the UAE, has grown to become a pioneer of electronic digital signature technology and document management solutions. When it started it was a niche entity in a niche segment, but quickly governmental and financial institutions that were looking to resolve issues of privacy and security found ZorroSign as the answer.
Their first customer was a government department in the Emirate of Abu Dhabi. As Hadi explains, “They are serving the general public and have an outstanding number of agreements, licenses, and permits. These documents were too daunting to manage and digitization was necessary. That government department aimed to go paperless while encompassing stringent privacy and security protocols, this is what brought them to ZorroSign.”
ZorroSign is offering solutions that go beyond digitization to include Artificial Intelligence solutions, Machine Learning, and blockchain allowing companies to validate their users, archive, and retrieve on a non-repudiated chain of custody platform.
ZorroSign has achieved many milestones since it was founded in 2013, one of the recent achievements is the awarding of their unique document 4n6 token forensic technology patent that offers post execution fraud detection, verification and authentication of electronic signatures and documents using blockchain tokenization. Hadi comments, “With this patent now awarded we will solidify businesses with post execution fraud and tamper protection solutions. We can prove if digital documents have been tampered. One of the biggest industries to benefit from this would be the auction sector where valuable pieces of art of limited edition products can be safeguarded.” As Hadi adds, “We will file new patents in the months to come.”
Blockchain at the Core
ZorroSign built its platform on Hyperledger Fabric. Hadi believes that this is the most secure platform he could find to build on, especially in 2013. Hadi reports that ZorroSign will start to incorporate a public blockchain platform component later this year.
In addition, ZorroSign is already moving ahead with its five-year plan and incorporating aspects of Machine Learning being built into the platform as well as integrations with other software platforms such as M365, SalesForce and other out of box integrations.
According to Hadi, “One of the unique aspects of our solution is its scalability and its ability to integrate with legacy systems in a modular fashion. We are like LEGO® blocks where you can build as you go, take out and add without compromising the effectiveness of the solution.”
Soon ZorroSign will be offering its solution as a pay per usage model instead of a purely SaaS (Software as a service) platform. He explains, “Our move to consumption-based pricing is in line with the needs of organizations to be cost effective and efficient, this is appreciated in today’s economies.”
ZorroSign was awarded the Best Blockchain Initiative in MENA as well as listed on Gartner’s Cool Vendor list for 2020. In the UAE ZorroSign has signed on new clients to include EMPOWER a subsidiary of DEWA and other inroads in the Kingdom of Saudi Arabia, Oman, and Kuwait in 2020. ZorroSign has also expanded its operations in Sri Lanka, India, and the USA, with headquarters in Arizona. Hadi adds, “We are having progressive discussions in Africa, with governments of Kenya and Tanzania.”
Their largest customer base currently resides in the USA and this is one of the main reasons for their move to Phoenix. Hadi states, “The business environment that they have built in Arizona is great in terms of tech friendliness and educational institutions which are very strong in Blockchain, AI, and ML.”
ZorroSign’s second largest customer base resides in the UAE, followed by India, Sri Lanka and Singapore. The top verticals being addressed are education, financial services, government, healthcare, insurance, legal, real estate and home inspection.
Financial institutions are utilizing ZorroSign for onboarding customers and KYC (know your customer) compliance. They are using verification of data, security and data privacy solutions of ZorroSign. As Hadi explains, “When private bankers interact with clients over emails, and there are high value transactions at risk it is imperative that the data and documents are securely transmitted. At ZorroSign we don’t just secure the data at rest, we also protect the data in transit, as we have a secure patented channel.”
In the healthcare sector, ZorroSign fights against fraudulent insurance scams, medical appointment scams, and tampering of reports. Hadi explains, “We capture the documents DNA, and can track modifications and prove fraud.”
ZorroSign and the Environment
ZorroSign’s commitment to digitization is part and parcel of their culture in as much it is part of their business. Today for every 8,000 pages transacted on ZorroSign’s platform ZorroSign plants a tree. Hadi comments, “I love scuba diving and when I see what we have done to our environment I think of my daughter and what kind of world we are leaving, so for me it is about making something better for our children and generations after.”
Series A Funding
By the end of 2021, ZorroSign plans to announce its Series A investment round to be used for marketing, expansion and product development. Hadi states, “Currently, the organization operates on private investments jointly with our UAE investor. We plan to carry out a Series A investment round by the end of 2021.